Analyst Gil Blum from Needham maintained a Buy rating on I-MAB (IMAB – Research Report) and keeping the price target at $4.00.
Gil Blum’s rating is based on several promising developments within I-Mab’s pipeline and financial positioning. A key factor is the anticipated data from the combination dose escalation study involving givastomig, nivolumab, and chemotherapy, which is expected in the second half of 2025. This study aims to show significant efficacy improvements over existing treatments, such as the zolbetuximab and chemotherapy combination in the GLOW study. Additionally, the recent acceleration in patient enrollment for givastomig trials is a positive indicator for the program’s progress.
Another reason for the Buy rating is I-Mab’s strong financial position, with $173 million in cash at the end of 2024, providing sufficient funding runway into 2027. This financial stability supports the company’s ability to continue its research and development activities without immediate financial constraints. Furthermore, the completion of enrollment in the first cohort ahead of schedule demonstrates the company’s operational efficiency and potential for timely advancements in its clinical programs.
Blum covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Geron, and Cartesian Therapeutics. According to TipRanks, Blum has an average return of -15.4% and a 27.69% success rate on recommended stocks.